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Auburn National Bancorporation - Parent Company Financials
 12 Months Ended
Dec. 31, 2020
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
NOTE 18: AUBURN NATIONAL
 
BANCORPORATION
 
(PARENT COMPANY)
 
The Parent Company’s condensed
 
balance sheets and related condensed statements of earnings
 
and cash flows are as
follows.
CONDENSED BALANCE SHEETS
December 31
(Dollars in thousands)
2020
2019
Assets:
Cash and due from banks
$
4,049
4,119
Investment in bank subsidiary
103,695
94,837
Other assets
631
625
Total assets
$
108,375
99,581
Liabilities:
Accrued expenses and other liabilities
$
685
1,253
Total liabilities
685
1,253
Stockholders' equity
107,690
98,328
Total liabilities and
 
stockholders' equity
$
108,375
99,581
CONDENSED STATEMENTS
 
OF EARNINGS
Year ended December 31
(Dollars in thousands)
2020
2019
Income:
Dividends from bank subsidiary
$
3,638
8,574
Noninterest income
862
346
Total income
4,500
8,920
Expense:
Noninterest expense
255
212
Total expense
255
212
Earnings before income tax expense and equity
in undistributed earnings of bank subsidiary
4,245
8,708
Income tax expense
110
26
Earnings before equity in undistributed earnings
of bank subsidiary
4,135
8,682
Equity in undistributed earnings of bank subsidiary
3,319
1,059
Net earnings
$
7,454
9,741
CONDENSED STATEMENTS
 
OF CASH FLOWS
Year ended December 31
(Dollars in thousands)
2020
2019
Cash flows from operating activities:
Net earnings
$
7,454
9,741
Adjustments to reconcile net earnings to net cash
provided by operating activities:
Net (increase) decrease in other assets
(6)
7
Net decrease in other liabilities
(561)
(215)
Equity in undistributed earnings of bank subsidiary
(3,319)
(1,059)
Net cash provided by operating activities
3,568
8,474
Cash flows from financing activities:
Dividends paid
(3,638)
(3,575)
Stock repurchases
—
(2,721)
Net cash used in financing activities
(3,638)
(6,296)
Net change in cash and cash equivalents
(70)
2,178
Cash and cash equivalents at beginning of period
4,119
1,941
Cash and cash equivalents at end of period
$
4,049
4,119